Asean must focus on building a more integrated and resilient economy, says Anwar

The Star

3 days ago

JAKARTA: It is imperative that Asean focus its energies inward, towards building a more integrated and resilient economy in facing today's global economic headwinds, says Datuk Seri Anwar Ibrahim.
In his policy speech delivered at the Asean secretariat here on Tuesday (July 29), the Prime Minister, who is also the current chair of the grouping, said the region is home to a vast and vibrant market of 660 million people.
"The potential is undeniable but to realise it fully, we must narrow the existing development gaps and forge stronger, more equitable economic linkages across member states,' he said.
According to Anwar, at the 47th Asean Summit in Kuala Lumpur, Asean will once again demonstrate its collective commitment towards improving the unimpeded flow of goods within the region.
"Through renewed efforts to reduce tariff and non-tariff barriers, we are taking meaningful steps towards creating a more seamless and dynamic Asean economic community that works for all," he said.
The Prime Minister said the Regional Comprehensive Economic Partnership (RCEP) is central to this vision.
"As the world's largest trade agreement, it reinforces Asean's role as the linchpin of regional economic architecture.
"We expect the 5th RCEP leaders' meeting to also take place on the sidelines of the 47th Asean Summit, thus presenting an opportunity for us to ensure that RCEP delivers tangible benefits for our businesses, workers and communities,' he said.
Anwar also said the grouping looks forward to strengthening its position in an increasingly competitive global economy.
"We must also do more to ensure that businesses can operate with confidence and clarity across our borders,' he added.
The Prime Minister said the success of the Asean-GCC-China Summit is a clear signal that Asean is ready to build new bridges and unlock new partnerships.
"It also reaffirms our shared determination to shape a future based on mutual respect, shared growth and strategic cooperation."
Anwar said the digital economy will be a key driver of Asean's next phase of growth.
"That is why the region is increasing efforts to conclude the Asean Digital Economy Framework Agreement while modernising existing trade agreements with strategic partners, including China, India and South Korea," he said.
These efforts reflect Asean's readiness to embrace change and position the grouping at the forefront of digital transformation, he added.
According to Anwar, Asean must be an agent of change - one that has the capacity to shape the global rules and norms to remain open, inclusive and firmly rooted in the principle of justice.
He said Asean's commitment to regionalism and multilateralism remains the anchor of the region's collective stability and progress.
"As an outward-looking organisation in a multipolar world, Asean must continue to punch above its weight by broadening its global partnerships.
"Deepening ties and strategic links with diverse partners is not a choice - it is a strategic imperative. But we should engage as equals. And above all, we must be the speakers and not the spoken for,' he added.
Anwar is currently in Indonesia for a two-day working visit for the 13th Malaysia-Indonesia Annual Consultation.
Earlier, he was welcomed by Indonesian President Prabowo Subianto at Istana Merdeka in Central Jakarta.
Both leaders then proceeded to a one-on-one meeting to discuss a range of bilateral issues. - Bernama